02 Oct Let’s Chat…with Jim Parker: You Can Buy a Business with the Main Street Lending Program
You can Buy a Business using the Main Street Lending Program. The Main Street Lending Program was unveiled with the CARES Act on March 27, 2020. So much has been discussed about the Payroll Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL). However, very little has been discussed in regard to the Main Street Lending Program.
At the time this video was made only 1/10 of 1% of the $600 Billion set aside for this program has actually been used.
If you know someone that already owns a business and they would like to buy another business to expand, this maybe an option for them.
This by no means is the best lending program. It does have some big warts. However, it does provide another option and could be the best route for some Buyers.